Enlightenment Research LLC purchased a new position in shares of Ross Stores, Inc. (NASDAQ:ROST) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 11,100 shares of the apparel retailer’s stock, valued at approximately $1,100,000.
A number of other institutional investors have also made changes to their positions in the stock. Litman Gregory Asset Management LLC acquired a new stake in Ross Stores during the second quarter worth about $32,000. Berman Capital Advisors LLC boosted its holdings in Ross Stores by 32.2% during the first quarter. Berman Capital Advisors LLC now owns 522 shares of the apparel retailer’s stock worth $48,000 after buying an additional 127 shares in the last quarter. Thor Advisors LLC bought a new stake in Ross Stores during the first quarter worth approximately $54,000. Zions Bancorporation N.A. bought a new stake in Ross Stores during the first quarter worth approximately $76,000. Finally, Cornerstone Advisors Inc. boosted its stake in Ross Stores by 26.0% in the 1st quarter. Cornerstone Advisors Inc. now owns 820 shares of the apparel retailer’s stock worth $76,000 after purchasing an additional 169 shares during the period. 88.16% of the stock is owned by hedge funds and other institutional investors.
A number of research firms recently commented on ROST. Robert W. Baird began coverage on shares of Ross Stores in a research note on Monday, May 13th. They issued an “outperform” rating and a $108.00 price objective for the company. Telsey Advisory Group lowered shares of Ross Stores from an “outperform” rating to a “market perform” rating and set a $103.00 price objective for the company. in a research note on Monday, June 24th. Guggenheim reaffirmed a “buy” rating and issued a $105.00 price objective on shares of Ross Stores in a research note on Friday, May 24th. Goldman Sachs Group lowered shares of Ross Stores from a “neutral” rating to a “sell” rating and decreased their price objective for the stock from $102.00 to $91.00 in a research note on Thursday, June 27th. Finally, Loop Capital raised shares of Ross Stores to a “buy” rating and set a $120.00 price objective for the company in a research note on Friday, August 16th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $99.95.
ROST stock opened at $104.19 on Wednesday. Ross Stores, Inc. has a 12-month low of $75.91 and a 12-month high of $108.20. The company has a quick ratio of 0.64, a current ratio of 1.34 and a debt-to-equity ratio of 0.87. The company has a market cap of $37.63 billion, a price-to-earnings ratio of 24.46, a PEG ratio of 2.20 and a beta of 0.89. The company has a 50 day moving average of $104.33 and a two-hundred day moving average of $97.82.
Ross Stores (NASDAQ:ROST) last released its earnings results on Thursday, May 23rd. The apparel retailer reported $1.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.01. Ross Stores had a net margin of 10.47% and a return on equity of 48.92%. The company had revenue of $3.80 billion during the quarter, compared to the consensus estimate of $3.79 billion. During the same quarter in the prior year, the firm earned $1.11 EPS. The company’s revenue was up 5.8% compared to the same quarter last year. On average, research analysts anticipate that Ross Stores, Inc. will post 4.51 EPS for the current year.
In other Ross Stores news, Director George Orban sold 29,000 shares of the stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $105.89, for a total value of $3,070,810.00. Following the completion of the sale, the director now owns 542,939 shares in the company, valued at approximately $57,491,810.71. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider James S. Fassio sold 85,238 shares of the stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $104.85, for a total transaction of $8,937,204.30. The disclosure for this sale can be found here. In the last quarter, insiders sold 296,287 shares of company stock valued at $29,806,735. Insiders own 2.30% of the company’s stock.
Ross Stores Company Profile
Ross Stores, Inc, together with its subsidiaries, operates off-price retail apparel and home fashion stores under the Ross Dress for Less and dd's DISCOUNTS brands. Its stores primarily offers apparel, accessories, footwear, and home fashions. The company's Ross Dress for Less stores sell its products at department and specialty stores primarily to middle income households; and dd's DISCOUNTS stores sell its products at department and discount stores regular prices to customers from households with moderate income.
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